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Yesterday was could’ve been worse. A more than 6% drop in Nvidia somehow limited the S&P500 gains, but many stocks in the S&P500 gained yesterday after the latest GDP update came in better than expected and pointed that the US economy has grown 3% in the Q2 versus 2.8% printed earlier. The consumer spending almost […]

The post Sentiment Remains Strong Despite Nvidia appeared first on Action Forex.

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22/08/2024

GBPUSD Wave Analysis

GBPUSD broke key resistance level 1.3040 Likely to reach resistance level 1.3040 GBPUSD currency pair recently broke above the key resistance level 1.3040 (previous monthly high from the middle of July). The breakout of the resistance level 1.3040 accelerated the active short-term impulse wave 3 of the higher order impulse wave (C) from the end […]
19/08/2024

Gold Price Surpasses $2500 for the First Time

We noted bullish sentiment in the gold market six days ago: → The price is moving within an ascending channel (shown in blue); → Bulls may attempt to set a historic record amid the release of economic news. As today’s XAU/USD chart shows, the gold price has risen above the psychological level of $2500. This […]
09/05/2024

German Industrial Production Slide Brings Closer ECB’s Rate Cut

German industrial production continues to decline. The rate of contraction in March was slightly better than the average forecasts but maintained the downward trend. The index of industrial production fell by 0.4% in March and by 3.3% y/y, having lost in annual terms for the last ten months. German industrial production peaked at the end […]